Connect with us

Zoom’s astronomical growth rate appears to be moderating; shares fall

Zoom saw revenue growth accelerate again in the most recent quarter. Now the company is expecting a slight slowdown….

Published

on

Zoom founder Eric Yuan speaks before the Nasdaq opening bell ceremony in New York on April 18, 2019.

Kena Betancur | Getty Images

Zoom Video Communications shares fell about 5% in extended trading on Monday after the company reported fiscal third-quarter earnings and quarterly guidance that exceeded analysts’ expectations. Investors seemed disappointed that the rate of revenue growth, which has accelerated this year, could moderate.

Here’s how the company did:

  • Earnings: 99 cents per share, adjusted, vs. 76 cents per share as expected by analysts, according to Refinitiv.
  • Revenue: $777.2 million, vs. $694.0 million as expected by analysts, according to Refinitiv.

With the coronavirus pandemic continuing to drive people to Zoom for work, school and family meetings, Zoom’s revenue grew 367% on an annualized basis in the quarter, which ended Oct. 31, according to a statement. In the previous quarter revenue increased 355%, and in the quarter before that, revenue had risen 169%.

Zoom’s gross margin declined to 66.7% from 67.3% in the previous quarter. During the quarter Zoom dealt with a higher mix of free users, including students and teachers who logged in as school resumed. That impacted gross margin, as did Zoom’s higher-than-usual reliance on public cloud resources, Kelly Steckelberg, the company’s chief financial officer, said during a Zoom webcast with analysts. Eric Yuan, Zoom’s founder and CEO, was not able to join the webcast. “I had a personal conflict arise,” he said in pre-recorded remarks.

More than 80% of the fiscal third-quarter revenue gain came from new customers’ subscriptions. Revenue in the Asia Pacific and Europe, Middle East and Africa grew 629%, compared with over 300% growth in the Americas, Steckelberg said.

Zoom said in the quarter it had about 433,700 customers with over 10 employees, up 485% year over year, higher than the 355% growth from the prior quarter.

In the quarter Zoom said that its premium Zoom Phone cloud-phone service had expanded to over 40 countries and territories, and that Zoom would come to smart-home devices made by Amazon, Facebook and Google. The company also announced OnZoom, a tool for putting on live virtual events that people can attend by paying fees.

Zoom called for fiscal fourth-quarter adjusted earnings of 77 cents to 79 cents per share on $806 million to $811 million in revenue, implying 329% revenue growth at the middle of the range. Analysts polled by Refinitiv had been expecting 66 cents in adjusted earnings per share and revenue of $730.1 million.

Excluding the after-hours move, Zoom stock has gone up 591% since the start of the year, while the S&P 500 index is up about 12% over the same period.

WATCH: Take some profits in ‘red hot’ tech stocks like Cloudflare and Zoom, says Jim Cramer

Source: https://www.cnbc.com/2020/11/30/zoom-zm-earnings-q3-2021.html

zoom's-astronomical-growth-rate-appears-to-be-moderating;-shares-fall

CNBC

Oracle guidance misses expectations, stock drops

Oracle reported better-than-expected results and showed accelerating growth compared with the immediate impact of the coronavirus last year.

Published

on

Safra Catz, co-chief executive officer of Oracle Corp.

David Paul Morris | Bloomberg | Getty Images

Oracle shares fell 5% in extended trading on Tuesday after the company offered lower quarterly revenue guidance than expected as it plans to increase capital expenditures to support cloud computing workloads. The guidance came on Oracle’s earnings call after the enterprise software maker issued better-than-expected earnings and faster revenue growth than last quarter.

Here’s how the company did:

  • Earnings: $1.54 per share, adjusted, vs. $1.31 per share as expected by analysts, according to Refinitiv.
  • Revenue: $11.23 billion, vs. $11.04 billion as expected by analysts, according to Refinitiv.

With respect to guidance, Oracle CEO Safra Catz called for 94 cents to 98 cents in adjusted earnings per share and 3% to 5% revenue growth in the fiscal first quarter. Analysts polled by Refinitiv are expecting fiscal first-quarter adjusted earnings of $1.03 per share and the equivalent of 3% revenue growth.

“We expect to roughly double our cloud capex spend in FY 2022 to nearly $4 billion,” Catz said. “We are confident that the increased return in the cloud business more than justifies this increased investment, and our margins will expand over time.”

Revenue rose 8% year over year in Oracle’s fiscal fourth quarter, which ended on May 31, according to a statement. In the prior quarter revenue grew 3%. The accelerating growth benefited from a comparison against the quarter last year when the coronavirus arrived in the U.S. and Oracle’s revenue fell some 6%.

Oracle’s top segment by revenue, cloud services and license support, generated $7.39 billion, which was up 8% and above the FactSet consensus estimate of $7.32 billion in revenue. The company said revenue from its second-generation cloud infrastructure doubled in the quarter, but it did not provide the figure in dollars.

The cloud license and on-premises license segment contributed $2.14 billion in revenue, up 9% and more than the $2.05 billion consensus.

The company’s hardware revenue, at $882 million, was exactly in line with analysts’ estimates, declining 2%.

During the quarter Oracle announced new public-cloud computing options that draw on Arm-based chips, and the U.S. Supreme Court ruled on a longstanding case between Oracle and Google, declaring that Google’s copying of Java code was fair use.

Notwithstanding the after-hours move, Oracle stock is up 26% since the start of the year, while the S&P 500 index is up 13% over the same period.

In May, Barclays analysts lowered their rating on the stock to the equivalent of hold from the equivalent of buy after the price had moved upward as investors rotated out of growth and into value. “To see further relative outperformance a growth acceleration at Oracle is needed, and we don’t have enough tangible data points for this yet,” the analysts wrote.

WATCH: The great tech tug-o-war

Here’s how the company did:

Source: https://www.cnbc.com/2021/06/15/oracle-orcl-earnings-q4-2021.html

oracle-guidance-misses-expectations,-stock-drops

Continue Reading

Ventureburn

Wayja releases SA’s first peer-to-peer betting app

Wayja launches its cashless peer-to-peer betting app, available on the Wayja site and on all major app stores by December 2021.

Published

on

Joburg-based startup Wayja launched its cashless peer-to-peer betting platform earlier this month. The application allows users to connect with friends and make cashless wagers on anything, from anywhere.

Officially founded in 2020 by Reece Jacobsen and Clinton Holroyd, the startup has thus far been funded by seed capital from the founding team but will look to additional funding rounds as the platform scales.

Betting big on peer-to-peer growth

The SA gambling industry is currently estimated at R30-billion and Wayja fully intends to infiltrate the market. Wayja CEO Reece Jacobsen explains that the idea for the platform grew out of a simple human insight.

Peer-to-peer betting is fast overtaking more traditional forms of gambling

“Everybody loves that feeling of winning bragging rights over your peers. We see countless bets being placed in everyday situations between friends, colleagues and counterparts. If you’ve ever been in an office pool on Superbru, making bets on the golf course, or even if you’re making bets with friends over who will be the next to get married – then this is for you. Wayja is there to make informal betting simple, quick and cashless.”

Globally, peer-to-peer betting is fast overtaking more traditional forms of gambling. With the popularisation of cryptocurrency and online marketplaces, recent trends reflect that Gen-Z no longer places their trust in middlemen but prefers complete control of financial transactions. Wayja allows users to connect directly with potential opponents without the help and inevitable cost of a bookie.

Co-founder Clinton Holroyd clarifies: “The potential for scale is what makes this such an exciting venture for us – we’re already making headway into switching Wayja on in key international markets such as the US, UK, India, and Nigeria all while gaining further traction here within the South African market.”

Jacobsen is optimistic about the startup’s growth so far. “Our first few weeks in business have been very encouraging and has strengthened the conviction that we’ve built a platform that is filling a gap in the market. We believe that these early sign-ups will snowball as more people get exposed to the platform. The informal bet against friends is not a new phenomenon by any stretch, but Wayja truly brings it into the modern era,” he says.

The application is immediately available on the Wayja site and will be available for download on all major app stores by the end of 2021.

Read more: EXPLORE Insights offers 24-hour data analytics services for SMEs
Read more: How to Secure Funding as an SME [Opinion]

Featured image: Reece Jacobsen, Founder and CEO of Wayja (Supplied)

Source: https://ventureburn.com/2021/06/sa-startup-wayja-releases-peer-to-peer-betting-app/

wayja-releases-sa's-first-peer-to-peer-betting-app

Continue Reading

ZDNET

Apple releases emergency update for older iPhones and iPads

If you’re running iOS 12, this is an update for you.

Published

on

Apple is getting pretty committed to the idea of pushing out security updates to older iPhones and iPads. Not only will the company continue to support iOS 14 come the release of iOS 15, we are also seeing a trickle of patches for older versions of iOS.

If you have an iPhone or iPad that’s still running iOS 12 — because that was the end of the line for your device — then Apple has released an emergency update that you need to download and install as soon as possible.

Why?

Because of the three security fixes contained in this update, two “may have been actively exploited.” In other words, the bad guys might already be using the vulnerabilities to compromise smartphones and tablets.

Must read: Apple will finally give iPhone and iPad users an important choice to make

iOS 12.5,4 is available for the following devices:

  • iPhone 5s
  • iPhone 6
  • iPhone 6 Plus
  • iPad Air
  • iPad mini 2
  • iPad mini 3
  • iPod touch (6th generation)

To check what version your device is running, tap on Settings > General, then on Software Update. Here you will see what version your iPhone of iPad is running along with any updates.

Note that if you have stayed on iOS 12 but the device is compatible with later versions, then this update will not be available to you. Your path is to upgrade to the latest release of iOS 14 or iPadOS 14.

There have been several high-profile security issuers plaguing iPhone and iPads over the past few months, and while for some there’s a hesitancy to install updates, it is the first and best line of defense against attack.

And iOS 12 and later will do it for you. Tap on Settings > General > Software Update > Customize Automatic Updates and then turn on Install iOS Updates.

Because of the three security fixes contained in this update, two “may have been actively exploited.” In other words, the bad guys might already be using the vulnerabilities to compromise smartphones and tablets.

Source: https://www.zdnet.com/article/apple-releases-emergency-update-for-older-iphones-and-ipads/

apple-releases-emergency-update-for-older-iphones-and-ipads

Continue Reading

Title

CNBC3 hours ago

Oracle guidance misses expectations, stock drops

Oracle reported better-than-expected results and showed accelerating growth compared with the immediate impact of the coronavirus last year.

Ventureburn16 hours ago

Wayja releases SA’s first peer-to-peer betting app

Wayja launches its cashless peer-to-peer betting app, available on the Wayja site and on all major app stores by December...

ZDNET21 hours ago

Apple releases emergency update for older iPhones and iPads

If you're running iOS 12, this is an update for you.

Crunchbase1 day ago

Macrometa Locks Down $20M To Be The Amazon Prime Of Edge Computing

Palo Alto, California-based edge compute company Macrometa closed a $20 million Series A less than eight months after announcing its...

Cointelegraph1 day ago

Crypto miners eye cheap power in Texas, but fears aired over impact on the grid

Can Texas meet the electricity demands of migrating Chinese Bitcoin miners?

Coinpedia2 days ago

Bitcoin Cash Price Prediction, Will BCH Hit Incredible Surges At $1000?

According to Coinpedia's formulated Bitcoin Cash price prediction, the coin's price may strike a maximum of $1417.33 by the year...

Blockchain news2 days ago

US Space Force Makes its Foray into the NFT Metaverse

The United States Space Force is launching an NFT series named after Neil Armstrong.

Reuters2 days ago

EXCLUSIVE Galp to hold off on LNG investment until Mozambique ensures security

Portugal's Galp Energia (GALP.LS), a partner in an Exxon Mobil-led gas consortium in Mozambique, will not invest in onshore plants...

Techcrunch2 days ago

Golden Gate Ventures forecasts a record number of exits in Southeast Asia – TechCrunch

Despite the pandemic’s economic impact, Southeast Asia’s startup ecosystem has proven to be very resilient. In fact, a new report...

Bioengineer2 days ago

Physical activity reduces cardiovascular risk in rheumatic patients

People with diseases such as rheumatoid arthritis and lupus are more likely to have heart attacks, angina, and strokes. A

Review

    Select language

    Trending